TMK Energy (ASX:TMK) records Gurvantes XXXV gas production milestone
TMK Energy has recorded another production milestone at its 100% owned Gurvantes XXXV Pilot Well Project in Mongolia, with average gas rates increasing ahead of the company’s planned 2026 drilling and recompletion program.
Highlights
Average gas production increased 11% compared with the August average daily production rate.
Production averaged more than 900m³/day, approximately 32,000 scfd, during the latest week.
LF 02, LF 05 and LF 06 produced at record highs.
Gas rates increased by more than 350% during the past 12 months.
The production update showed higher rates across multiple wells at the Pilot Well Project, with TMK stating that results from LF 02, LF 05 and LF 06 signalled growing gas desorption across the field beyond LF 07.
LF 07 also recorded another increase in its stabilised gas rate, with the announcement including an image of the well’s gas flare following the latest increase.
A separate production chart showed the change in gas rates during the past 12 months.
TMK said continued month on month increases in gas rates were strong indicators that the Pilot Well Project would reach the minimum commercial flow rates required to support full field development.
This remains the company’s stated assessment of the production performance at Gurvantes XXXV.
TMK Chief Executive Officer Dougal Ferguson outlined the management team’s priorities for the remainder of 2026:
“Key deliverables for the management team for the remainder of this year include delivery of the 2026 Work Program, implementation of the Gas to Power Project at the PWP, and the progression of our significant discovered 2C resources to reserves and ultimately, an exploitation license.”
The production milestone was reported as TMK prepares to commence its 2026 drilling and recompletion program.
The program forms part of the activities identified by management for the remainder of the calendar year.
Senior management is in Mongolia this week to advance discussions with regulators concerning the progression of the Gurvantes XXXV Project’s 2C resources to initial reserves and ultimately an exploitation licence.
The company has included this regulatory process among its key management deliverables.
TMK is also progressing the implementation of its Gas to Power Project at the pilot operation alongside the 2026 Work Program and regulatory discussions during the remainder of 2026.
The company said these deliverables were important steps as it progresses towards an expanded appraisal drilling program in 2027 and broader field development.
Continuing to grow and utilise gas production remains a stated objective and, according to TMK, forms the foundation for future development.
The outlook presented in the announcement centres on completing the 2026 Work Program, implementing the Gas to Power Project and advancing discussions with Mongolian regulators.
TMK also plans to progress towards expanded appraisal drilling in 2027 and broader development of the Gurvantes XXXV Project.